Price Forecast for Bitcoin, Ethereum, and XRP: A Clash Between Bulls and Bears.

The cryptocurrency market has exhibited strong price action in recent days. This resulted in a new all-time high (ATH) for Bitcoin's price yesterday. Following this, the altcoin market is expected to gain momentum and move towards a new peak. This has resulted in Ethereum and XRP tokens gaining prominence in the market.

Considering the current market sentiments, are you one of many planning to enter the world of cryptocurrencies? In this article, we will explore market analysis and the technical sentiment of the top 3 cryptocurrencies by valuation and their possible weekly price forecasts.

Bitcoin Retests Its $110,000 Mark!

As volatility in the market increases, the price of Bitcoin is back below the $110,000 mark. With an intraday trading volume of $65.89 billion, the largest cryptocurrency token has fallen -1.28%. Consequently, it has a market capitalization of $2.18 trillion.

The Moving Average Convergence Divergence (MACD) registers a steady green histogram. Additionally, its SMA indicator consistently supports Bitcoin's price chart in the daily timeframe. This suggests a growing bullish action for the largest cryptocurrency token in the market.

If the bullish sentiment in the market holds, this could result in Bitcoin's price surpassing its $112,000 mark and heading towards its upper price target of $115,000. On the other hand, a strong bearish pullback could drag the price down towards its low of $105,000 during the next week.

ETH Price Displays a Constant Lateral Trend!

The price of Ethereum today continues hovering above the $2,500 mark, with an intraday trading volume of $29.48 billion. Following this, major investors and institutions are raising concerns about the future prospects of this project. Notably, with a valuation of $311.24 billion, it has a market dominance of 8.97%.